If you want to get rich, spend 1/10th your income on a car..and "3/16 of your income on your rent"

Discussion in 'Wall St. News' started by S2007S, Nov 4, 2019.

  1. S2007S

    S2007S



    You bought a Jetta. I can lease a brand new jetta for about $175 a month.

    And you bought a 2010 jetta with 150,000 miles on it which VW is known for many many electrical problems on their cars.
    That car was driven way over the average amount of yearly miles a regular person drives.
     
    #11     Nov 4, 2019
  2. dozu888

    dozu888

    In 1 year I put 10k on the car. Gas insurance repairs inspection all in? $2500.

    Used car is sure cheaper.
     
    #12     Nov 4, 2019
    ElectricSavant likes this.
  3. S2007S

    S2007S



    Some people get lucky with certain cars and drive them for tens of thousands of miles before they have any problems but how many people actually maintain their vehicles.
     
    #13     Nov 4, 2019
  4. dozu888

    dozu888

    Many many? I have had none. All is priced in anyway.

    But that’s not the point right.
     
    #14     Nov 4, 2019
  5. S2007S

    S2007S


    My car cost me approximately $485 a month

    Gas
    Insurance
    Monthly car payment.

    And it's a 2018 "Japanese car" with all the bells and whistles
     
    #15     Nov 4, 2019
  6. dozu888

    dozu888

    Valid point. If you are not handy at all then should not touch high mile cars.
     
    #16     Nov 4, 2019
  7. I paid $15K for my sweet ass ride from a guy getting divorced which is easily less than 10%. 3/16 on rent seems fine too. $150K at 3/(16*12) is about $2K which is fine.
     
    #17     Nov 4, 2019
  8. gaussian

    gaussian

    I would disagree only because of the availability of mechanics. Most shops (I've done this with a bunch of chain autoshops here) will happily give you a 30 point inspection for a modest fee. If the seller disagrees to this as a condition to purchase run, don't walk, away from the guy. They're trying a fast flip on craigslist or something.

    The trick is to know what you're getting into. Craigslist cars are almost always bad news. It would be prudent for a non-greasemonkey to go to one of these shops to be certain. Most cars made before all the new Obama era vehicle rules are generally extremely reliable when taken care of. You can turn over the odo many times on a 1997 honda civic for example if you get it in good enough shape (good luck).

    I actually dread the day I upgrade to something with an engine management system in it. Aside from suspension and transmission work I generally do my own maintenance. On these new cars, everything is a hassle designed to pull every dollar out of your pocket.
     
    #18     Nov 4, 2019
  9. dozu888

    dozu888

    Lease or buy? And you forgot maintenance. That stealership 100 point check lol.

    But. Arguing individual data point won’t get us anywhere. Bottom line is with newer car you are trading off the hassle of maintenance vs the depreciation. And just from budgeting standpoint it’s easy calculation to lean towards a used one

    And by the way jap cars have no soul lol.
     
    #19     Nov 4, 2019
  10. dozu888

    dozu888

    Oh I meant the ongoing. Wouldn’t make sense to drive an old car if someone can’t change a belt light bulb or a hose.

    And true cars are so well built now usually the first thing to go is the body

    And yes computer-less rocks lol. I have 4 bikes. All carburetors lol.
     
    #20     Nov 4, 2019